The dollar fell after the rise of Asian stocks


The dollar fell on Tuesday, to a 3-week low against other major currencies amid an improvement in risk appetite, as Asian stocks tracked the impact of a rally in US technology shares, amid signs that China’s property market problems could be contained.
The Australian dollar, which is affected by risk appetite, jumped, as did the Chinese yuan.The dollar index, which measures the performance of the US currency against six other major currencies, fell to a low of 93,641 for the first time since September 28, dropping out of its recent range. It was down in the latest trading by 0.26% to 93,690.

The yuan jumped in internal transactions to 6.4105 per dollar, the highest level since June 16, while it reached 6.3975 in offshore trade, the highest level since June 16.

The Australian dollar rose to $0.7474 for the first time since Sept. 3rd, even after the minutes of the Reserve Bank of Australia’s September meeting showed that policy makers were concerned that monetary tightening would hurt the labor market.

The euro rose to $1.1658, a level not seen since September 29.


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